IRA puts

I need a list of brokers that allow you to buy puts and calls in your IRA.I was with Dreyfus but Brown and Co seem to have totally screwed up their take over of Dreyfus.What use is an account if you cannot access it?Can anyone suggest an alternative?

I just got an email from Brian at MBT saying that they allow options in an IRA.So if Brown and Co dont let me in soon,that is probably where I will go.I get the impression that IB dont want you unless you are going to be rather active.

I just noticed Brown and Co are owned by JPM.What if the rumours about JPM are true,that they are in deep doo doo with their gold derivatives?If JPM went belly up,what would happen to customer accounts at Brown and Co?

Fidelity allows option trading in an IRA (Roth or usual flavors), only up to level 2, since they don't allow margin accounts within IRAs.

You have to go through the usual paperwork, of course.

And, you have to be alert to NEVER let an in-the-money position go to expiration and get assigned unless you are sitting on a huge pool of cash...otherwise the margin dept. will call you up to discuss the issue.

Originally posted by graeco I need a list of brokers that allow you to buy puts and calls in your IRA.I was with Dreyfus but Brown and Co seem to have totally screwed up their take over of Dreyfus.What use is an account if you cannot access it?Can anyone suggest an alternative?

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I'm also a refugee from Dreyfus (sweet margin deal that we had there didn't we?) . I went to IB. You can do puts and calls in your IRA accounts there but due to their cash accounts policy, you have to wait until settlement day for availability of your funds after closing a position: therefore it's 3 days for stocks.

You need to generate 30 bucks a month in commission to avoid a $10 monthly data fee. However you can combine/link several accounts for the purpose of commissions. So if you generate the $30 on your margin account, you would not get dinged for the data fee on your IRA account. If you trade your IRA accnt a lot and with stocks, the 3 days rule has to be looked at carefully: it could cripple your style and timing. If you do lots of options ($1flat/contract) it's something to look at.

I was with Brown many many moons ago, when orders had to be entered via a human being: it's a serious outfit. Don't discount them too fast (no pun intended). However, they've been sliding a bit as I understand; many web site problems etc... Superb customer service though. All very professional, and they know their stuff.